All Banks Salary & Arrears Calculator for 11th Bipartite Wage Settlement is ready. The mentioned calculator is useful for all the employees of nationalized bank like SBI, PNB, BOI, CBI, UBI, Indian Bank, BOM, IOB etc. including the pensioners and Retirees.
The mentioned calculator will be having the calculation as :
- Arrears Calculation Sheet
- Pension Calculation Sheet
- Revised salary chart with HRA
The excel based utility is developed by CBOA.
Salient Features of the Calculator:
- Can Calculate the loss of pay.
- Arrears calculation of Medical aid is taken care of.
- As far as stagnation increments are concerned, since monetary benefit on account of revised periodicity shall be payable only from November 2020 salary, input of month and year of reaching maximum scale needs to be given for calculating pension.
Impact on BPS on officers’ salary:
The increase in pay slip components varies from 12.5% to 16.5% across the scales. It appears that more you move up in the scale, the lesser will be the increase in the salary!!. Officers not drawing HRA will get less increase in their salary (12.50 to 13. 75%) than officers who are getting HRA ( 14 to 15%).
Rural officers get little more increase than their urban counterparts. Though periodicity of stagnation increments is reduced, not much monetary benefit would accrue by way of arrears since it is made effective from 1.11.2020.
Impact on pension is slightly better in the sense that the gross pension would reduce by Rs.1000 to 1500 ( instead of over 3000, if periodicity of stagnation increments not reduced to 2 years). However, commutation amount will increase by 6 to 8 lakhs, hence net impact on pension is almost Nil.
Note : Click Here, to download at your PC/Desktop, if it doesn’t work
